Is there a limit on the number of transactions I can make in a month?

Yes, there is a limit on the number of transactions you can make in a month. Salem Five has a limit of six transactions per statement cycle on savings accounts due to federal regulations. These transactions include pre-authorized transfers, automatic transfers, telephone transfers, online banking transfers, overdraft protection transfers, and transfers made via check, debit card, or other similar means. However, ATM withdrawals, in-person withdrawals, and transfers made in person at a branch are not counted towards this limit. It is important to note that exceeding this limit may result in fees or the conversion of your savings account into a checking account.